B.C. business likes Pacific trade deal

B.C. farm, forest products face tariffs in Japan, Malaysia, Vietnam, Australia and New Zealand

Jobs

B.C.’s Asia trade will benefit from the Trans-Pacific Partnership, the world’s largest free trade agreement, reached Monday after all-night discussions with 11 Pacific Rim countries, according to business and provincial government officials.

Jobs Minister Shirley Bond cautioned that legal work and ratification by the 12 countries involved still remains to be done, but the TPP removes barriers for B.C. producers of seafood, minerals, forest and farm products in countries such as Japan, Malaysia and Vietnam.

“Generally speaking, any time British Columbia can compete on a fair and level playing field, we’re going to do well,” said Bond, citing trade growth in cherries, blueberries and wood products.

Much of B.C.’s progress in lumber exports has been in China, which is not part of the TPP talks. B.C. averages $4.8 billion annually in forest products to TPP countries and 1.5 billion worth of pulp and paper, despite duties up to five per cent in Australia and New Zealand, up to 10 per cent in Japan and up to 40 per cent in Malaysia.

The B.C. Chamber of Commerce says fish and seafood are currently subject to 15 per cent duty in Japan and Malaysia, up to 34 per cent in Vietnam and up to five per cent in New Zealand. Beef, fresh and frozen vegetables, fresh cherries and fresh and frozen blueberries also face tariffs in Asian countries.

The tentative deal has emerged as a major issue in the federal election campaign. Prime Minister Stephen Harper outlined a $4 billion “income guarantee program” for Canada’s protected dairy and egg producers, to compensate farmers for lost income due to new foreign imports for 10 years after the TPP takes effect.

NDP leader Thomas Mulcair blasted the agreement as a “sellout” of Canadian auto workers and farmers that will also see drug prices rise in Canada. Mulcair said his party would not be bound by the agreement if it forms the new government on Oct. 19.

Liberal leader Justin Trudeau said his party is pro-free trade, but will study the agreement and “take the responsible time to do what’s right for Canada.”

 

Just Posted

WIND WARNING: Metro Vancouver expecting 100 km/h gusts Saturday night

Environment Canada issues warns of possibly dangerous conditions

Downtown Mission: Ready to revitalize

With the bidding process underway, construction could start by mid-March

Guilty plea issued in case where man, 86, was assaulted and robbed

Hughie Stump pleads guilty to break-and-enter in relation to Abbotsford incident

Fraser Health asking taxpayers for millions more in health care capital funding

Health authority wants Fraser Valley taxpayers to triple annual contribution to $5.75 million

UPDATE: 24-year-old Lovepreet Dhaliwal ID’d as victim in targeted Abbotsford shooting

Location of shooting the same as where innocent bystander Ping Shun Ao killed in 2015

VIDEO: AND THE WINNERS ARE …

Mission Chamber announces Business Excellence Awards winners

VIDEO: Vancouver Giants blanked by Portland Winterhawks

Saturday’s 2-0 setback marks first regulation loss for G-Men in 10 games

VIDEO: Thousands join women’s march events across B.C.

Today marks one year since the first Women’s March on Washington

VIDEO: Remember the Voyageurs at Fort Langley

Two-day historical festival underway

Two Canadians, two Americans abducted in Nigeria are freed

Kidnapping for ransom is common in Nigeria, especially on the Kaduna to Abuja highway

Are you ready for some wrestling? WWE’s ‘Raw’ marks 25 years

WWE flagship show is set to mark its 25th anniversary on Monday

B.C. woman who forged husband’s will gets house arrest

Princeton Judge says Odelle Simmons did not benefit from her crime

Snow warning in effect for the Coquihalla

A snowfall warning is in effect from Hope to Merritt as slush and snow is expected on highways this weekend

Vancouver hoping free public Wi-Fi expansion will drive tourism dollars

Mayor Gregor Robertson says expansion bolsters its “leading Smart City” status

Most Read